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Congress races toward debt vote

Joe Biden took to Capitol Hill Monday to rally votes for the new debt deal. | Niko Duffy /POLITICO
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Senate Democrats enlisted Biden to win over liberals angry that President Barack Obama caved on his call for tax revenues, while Senate Minority Leader Mitch McConnell brought his caucus into the Lyndon B. Johnson room of the Senate to tell his party they were holding the president “accountable.”

“Of course,” McConnell told POLITICO when asked if he’d get the votes to pass the bill.

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Despite their concerns that the bill wouldn’t go far enough in cutting spending, conservative Sens. Mike Lee and Rand Paul said Monday they would not force the Senate to consider the measure for several days. Sen. Jim DeMint (R-S.C.) also said he wouldn’t filibuster the bill.

Party leaders and the White House plan to push the measure into law just hours after it was publicly released.

At the White House Monday, spokesman Jay Carney called the deal “a victory for the American people.”

The House Rules Committee plans to meet Monday around 1 pm to outline the terms of the debate.

In the Senate, both Reid and McConnell want to expedite the measure and circumvent the waiting period for voting on legislation, which can be demanded by any individual senator. For now, it’s unclear whether any senator will object to a request to speed up consideration of the bill.

“There is some enthusiasm for the legislation, some on the other side are not so enthusiastic,” Reid told reporters. “But generally speaking, people understand the situation we’re in and the alternative” of a debt default.

After the vote is completed — assuming it passes — the House will be in recess for five weeks, and the Senate is expected to adjourn this week for its summer break as well.

Late Sunday night, Obama and congressional leaders announced they had reached an agreement to allow the national debt ceiling to be increased through the 2012 elections. The deal would allow for a $900 billion debt ceiling, tied to a $1 trillion reduction in discretionary spending through the creation of 10-year caps on spending programs. The second part of the deal would create a House-Senate committee to recommend further cuts - including an overhaul of the tax code and entitlement reforms - worth up to $1.5 trillion, paired with another debt-ceiling increase through the elections.

If Congress failed to act on the committee recommendations before Christmas, across-the-board spending cuts would be enacted, with a potentially large amount coming from defense spending and Medicare.

“Some of it I like, some of it I don’t care for,” said Sen. Ben Nelson (D-Neb.), singling out the super committee for criticism. “I don’t think it cuts enough, so we’re going to take a look at that right now.”

Ahead of a Monday morning caucus meeting, Democrats and Republicans in the Senate expressed concern with the plan - but said they were eager to learn more about the details.

I guess the Bedwetters have learned a lesson over the past few years, bankruptcy is not a viable econ. policy.

Redistribution of wealth does not create growth, just stagnation. A zero sum game, capitalism creates growth and increases the of the pie for everyone. Lower the tax rates and lets get this ship turned around, rather than sink with Obama and his Carter 0.4% GDP growth agenda.

I believe that the problem is that the extremists both left and right, are out of touch with reality. They need to understand that compromise is not "caving in" as the Democrats espouse while the "Tea Party" conservatives want it their way or no way.

I am especially tired of the loud-mouth conservatives who don't know what they are talking about. Grover Norquist and his inane pledge that many of the conservatives signed is an abomination of the legislative process and assault on the ability of my legislators who signed it. Those I elected are supposed to listen to my, not some conservative lobbyist!!!

The second part of the deal would create a House-Senate committee to recommend further cuts - including an overhaul of the tax code and entitlement reforms - worth up to $1.5 trillion, paired with another debt-ceiling increase through the elections.

If Congress failed to act on the committee recommendations before Christmas, across-the-board spending cuts would be enacted, with a potentially large amount coming from defense spending and Medicare.

So basically all the GOP needs to do is continue being intransigent and obstructive and they will get MORE of what they want? All they have to do is walk away from the talks and they get everything they desire.

Only way to fix our political problems is to totally change the way congressional districts are drawn. Current methods (owned by the parties in the state legislatures) result in "safe" districts for hard core libs and conservatives. Their behaviors are revealed in EVERY legislative debate -- and work against common sense and compromise solutions......

BTW,,,,,,,,I am speaking as a hard core conserative......who was a Goldwater supporter in 1964

I think the Norquist pledge was in line with what their constituents voted for, there is no reason they would sign it if that were not the case. With record setting spending, it is about time someone called out our politicians and held their feet to the fire for all of this waste of taxpayer money. The Tea Party has spoken for the majority of Americans according to the polls (74% support a balanced budget amendment, 66% support Cut, Cap & Balance according to a liberal CNN poll). A weakened Obama should now think about instituting supply side growth policies, as all of his left wing policies have been a complete failure.

Why is Biden beaming when the Dems were punked all over the field over this? No adjustment to tax rates for sinfully rich when they have done nothing but outsource American jobs during the insane Bush tax cut period.

I'm a Dem that is likely going to re-register as an Indepedent. I WILL NEVER VOTE FOR OBAMA AGAIN! I don't support PUNKS!!

This bill sounds worse the more it is evaluated. This bill sells the conservative base down the river, giving Obama all the room he wants to keep spending money with no debt ceiling to raise until after the 2012 elections, the expiration of the Bush tax cuts, no limitations at all on Obamacare, in exchange for what? Promises of spending cuts later on....after 2013, which will never happen.

That's a deal? Sounds to me like Boehner doing his best imitation of Charlie Brown, who kept on believing Lucy wouldn't pull the football away at the last second when he tried to kick it. "This time, there will really be cuts!. This time, they won't outsmart me!" Sorry Mr. Speaker, the fact that you bought into this piece of garbage is evidence enough that you've already been fooled....again.

Mark my words: If this bill passes, there will be a third party formed out of Tea Party. If that happens, nobody benefits, and this nation gets four more years of the same garbage. But the TP Republicans have no reason to remain in the GOP if their leaders are going to insist on passing bovince excrement like this bill. It has become painfully obvious that the current GOP leadership cannot be counted on to do the right thing.

So... After the House votes on this they are going on a five week recess...

Exactly what are these people doing?

They can't seem to get much done... It was so important for both Democrats and Republicans to play fast and loose with the "good faith and credit" of The United States because they needed to force the issue of the debt ceiling and the "irresponsible spending" of our government. Now that everything is ok they can go home.

These people are a joke. It is no wonder we are in this mess.

The Democrats and Republicans need to get their work done. Or maybe the "triggers" will do it for them. They don't deserve any recess, they need to finish the job.

“Hopefully the preisdnet will use the bully pulpit, but we haven’t seen much of that,” he said, expressing hope that the new committee would propose more revenue.

(Sob)...we need )Sob spittle) more revenue cried the intelligence challenged Sen Levin...(whine) how will we be able to spend and enlarge federal entitlements without more "revenue" he lamented! How can we expect to bankrupt yet more future generations unless we can have more..."revenue?"